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Outline the major components of marketing strategy.


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The major components of a marketing strategy are market research, target market identification, positioning, messaging, offering mix and pricing strategies, digital marketing strategies, distribution tactics, and sales and customer service. Market research involves gathering and analyzing relevant data on customer needs, trends, competitors, and the marketplace. Target market identification involves selecting the audience that is most likely to purchase the company’s products and services. Positioning involves creating an image for the product or service that is distinct from competing products. Messaging involves communicating the value proposition of the product or service to the target market. At the core of a marketing strategy is the offering mix and pricing strategies, which involve selecting the products and services to be offered and setting their prices. Digital marketing strategies involve marketing efforts to reach users online, such as through email marketing, search engine optimization, and social media. Distribution tactics involve the selection of the distribution channels and partner networks to reach the target market. Finally, sales and customer service involve the expected customer service responses and follow-ups to customer inquiries.